State-owned Indian Renewable Energy Development Agency (Ireda) has filed an application seeking insolvency proceedings against embattled Gensol Engineering over a default of ₹510 crore, an exchange filing by Ireda shows.
The Ireda’s plea has been filed under Section 7 of the Insolvency and Bankruptcy Code (IBC). “With respect to M/s Gensol Engineering Limited, this is to inform you that the Company has filed an application today i.e. May 14, 2025 under Section 7 of Insolvency and Bankruptcy Code, 2016 against M/s Gensol Engineering Limited, for an amount of default of Rs. 510,00,52,672,” the company said.
The state-run PSU also filed a complaint against Gensol, its promoters Anmol Singh Jaggi and Puneet Singh Jaggi, and associated…
